ICICI Bank
Reversal of Rs 70000 in my account

Here is the text which was sent to ICICI BANK on 17th October:

Respected Kamath Sir,

I bring it ur kind notice that Rs 70, 000 has been wrongly

transferred to an account with Pune branch in the name Mr

Gaurav Grover on 16th August. The amount actually was to be

transferred to Mr Suarabh Agrahi from my account. I have

requested Pune branch of ICICI Bank to revert the amount of

Rs 70000 to my account at ICICI Bank, Trivendrum but so far it has not

been done. I understand that two letters have been sent to

Mr Gaurav Grover but there is no response from him. Further,

his account with Pune branch has not been in operation since

last more than one year & Mr Grover is probably not present

in India.

I, therefore request U, Sir to look into the matter and

instruct the concerned officials to revert back the whole

amount Rs 70000 in my account as more than one & half months

has passed & I am loosing interest on this amount.

Hope that an prompt action will be taken by bank.

With Regards,

Anubha Gupta

Susequent to above, lot of correspondence has taken place through e-mail with the bank as well as with wrong beneficiary, Mr Gaurav Grover. Mr Grover is not in India at the moment. His present contact no., his parent tel no & their address has also been passed on to ICICI Bank. Mr Grover has sent his consent twice for debit the amount from his account as the money doesn't belong to him. But ICICI Bank isn't doing the needful by transferring the amount to my account on the plea that bank needs written consent from the wrong beneficiary.

ICICI bank representative has quoted honorable Supreme court judgement as per the following details:

Dear Ms. Gupta,

As discussed with you, please find the Supreme Court Judgement below.

" The Supreme Court in Jammu & Kashmir Bank Ltd v.

Attar-ul-Nisa (1967) 37 Comp case 62 (SC), the Supreme Court

held that if a third party, by mistake deposits the money

in the account of some other person, as soon as the money is

deposited in the a/c of such third person, who is a

customer of the bank, the money becomes the money of the

customer, and it is not open to the bank in such

circumstances without obtaining the consent of the customer,

to reverse the entry of credit made in his a/c and in effect

pay back the money to the person who had deposited it, even

though it might have been deposited by mistake "

The above judgement mentions deposit of money in third party's account by mistake & the same can be revert back after obtaining the consent of the customer.

In my case the money was transferred on-line in wrong account & the same was bought to the bank notice immediately and bank put the money on lien. After lot of efforts, the wrong beneficiary was traced & pursued to do the needful. Accordingly, Mr Gaurav Grover (NRI) has sent his consent twice to bank through e-mail on-line to debit the amount from his account. Bank so far hasn't credit the amount in my account.

Pl get my money back along with accured interest as on date.

With Regards,

Anubha Gupta

Company: ICICI Bank
Country: India

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